PAEROA BREWERY.

Hauraki Plains Gazette, Volume XXXVII, Issue 4991, 23 June 1926, Page 2

PAEROA BREWERY.

BANKRUPT COMPANY’S AFFAIRS.

THE EFFECT OF RESTORATION

A meeting of creditors, of the Paeroa Brewery Company, Ltd., was held at Auckland on Monday before the official assignee, Mr W. S. Fisher. The mortgagee was represented, by Mr A. Hanna, and two other creditors attended.

Mr Fisher said that £250 18s was owing to ordinary creditors, all the amounts being small. The liabilities to the mortgagee were £2250 and £llO interest. The assets consisted of uncalled capital which would probably produce at least S4O0 1 , certain freehold property, the brewing plant and license, and book debts to the. extent of £94 14s. There were also 6890 unallotted shares. The only visible assets for the ; ordinary creditors consisted of the uncalled capital. Before, anything further could be done it would be necessary to obtain an order of the Court, fixing a final date for the lodging of claims by creditors. Mr Hanna sa.id tlie company bad not. been operating for several years, but tlie license had been kept alive. Now that restoration had been carried in the ditsrict the license might be valuable.

The meeting was adjourned to arrange for a guarantee of tlie costs of obtaining a. Supreme Court order to call up tlie remaining capital.